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Weekly Gbpjpy Breakout System

Quoting sikacek
Hi Billbss,
What is your T/P?
1x chanell or 2x chanell?

Thanks
I'm using 1x on the first breakout.
If it gets stopped out, I use 2x on a second breakout.
Quoting billbss
Hit profit.

That's 11W / 2L since January.
That is very impressive.

Just wanted ask about your feel. I don't mean to criticize this approach.

Do you feel comfortable to take trade with real money based on this result.
I mean is there a consistent price behavior that makes this possible rather than pure chance, in your opinion?

Thanks
TS
Haste not to Enter AND Haste not to Exit !-TradeStar
Quoting TradeStar
That is very impressive.

Just wanted ask about your feel. I don't mean to criticize this approach.

Do you feel comfortable to take trade with real money based on this result.
I mean is there a consistent price behavior that makes this possible rather than pure chance, in your opinion?

Thanks
TS
I trade it with real money.
It has backtested profitably for several years, using harold's rules.
Sucessful backtests are all we ever have to go on.
Yeap, nice ideea
I don't say
Quoting billbss
I trade it with real money.
It has backtested profitably for several years, using harold's rules.
Sucessful backtests are all we ever have to go on.
Thanks billbss. Sorry, I didn't realize you are trading real money. Thanks for the feedback. Is there a specific post that explains the harold's rules.

Thanks again.

TS
Haste not to Enter AND Haste not to Exit !-TradeStar
Quoting TradeStar
Thanks billbss. Sorry, I didn't realize you are trading real money. Thanks for the feedback. Is there a specific post that explains the harold's rules.

Thanks again.

TS
Post #9.
There is a later post that shows additional profit by using 2x Range TP on the second breakout (if the 1st is stopped out).
I don't remember where it is, but it's later in the thread.
Looks to me the T/P on long position was missed by 1 pip.. is that correct??
Veni, vidi, vici...
Quoting sikacek
Looks to me the T/P on long position was missed by 1 pip.. is that correct??
It was missed by 20 something pips. The trade is still active. It hasn't been stopped out.
I use North Finance chart.
Quoting billbss
It was missed by 20 something pips. The trade is still active. It hasn't been stopped out.
I use North Finance chart.
by 20 pips???

I got North finance:
High: 207.41
Low: 206.31

TP for long 208.60
TP for short 206.31


it's my setup wrong??
Attached Image (click to enlarge)
Click to Enlarge Name: Weekly.JPG Size: 109 KB
Veni, vidi, vici...
sorry.. tp for short 205.12
Veni, vidi, vici...
Quoting sikacek
by 20 pips???

I got North finance:
High: 207.41
Low: 206.31

TP for long 208.60
TP for short 206.31


it's my setup wrong??
Your set up is wrong. You aren't adding the spread.
Quoting billbss
Your set up is wrong. You aren't adding the spread.
207.41-206.31=110 pips channel

207.41 + 110 + 9(spread) = 208.60

206.31 - 110 - 9(spread) = 205.12

so where is the problem?? I have to add 2x spread??

thanks for your patience, billbss
Veni, vidi, vici...
Quoting sikacek
207.41-206.31=110 pips channel

207.41 + 110 + 9(spread) = 208.60

206.31 - 110 - 9(spread) = 205.12

so where is the problem?? I have to add 2x spread??

thanks for your patience, billbss
H= 207.41
L=206.31

With a 9 pip spread:

Buy at 207.51 That is 1 pip above the H + spread.
Sell at 206.30 That is 1 pip below the L.

Range now = 121 pips.

BUY / SL=206.30 / PT=208.72

SELL / SL=207.51 / PT=205.09
Quoting billbss
H= 207.41
L=206.31

With a 9 pip spread:

Buy at 207.51 That is 1 pip above the H + spread.
Sell at 206.30 That is 1 pip below the L.

Range now = 121 pips.

BUY / SL=206.30 / PT=208.72

SELL / SL=207.51 / PT=205.09
thanks billbss, now is it clear for me....
Veni, vidi, vici...
another win trade, correct?
Veni, vidi, vici...
Quoting sikacek
another win trade, correct?
Yes.
I got stopped out on my long trade, then hit 2x profit on my short.
Hello all, Billbss, quick question, why didn't you minus the spread as you added the spread to the buy in your orders, shouldn't the sell order have been 206.21?

I'm confused a bit.
Please do clarify.
Also, that means your TP should have been 2X channel (110X2) 220

so Take profit is/was 206.21 - 220 = 204.01

Unless i missed something in the readings.
Please correct me.
Thanks.
Hi Billbss,
just wanna make sure, that this setup is right..

Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: weekly.jpg Size: 97 KB
Veni, vidi, vici...
Quoting sikacek
Hi Billbss,
just wanna make sure, that this setup is right..

Thanks
Here's what I show, with a 9 pip spread:

Buy stop = 208.90
Sell stop = 207.29

PT for long= 210.51
PT for short = 205.68
Hello all.
This is a general question,
I hope I dont confuse anyone.
Every sunday night we enter 2 orders, buy stop and sell stop with there respective TP/SL.

After one gets triggered, we wait and hope it hits our tp, but if it reverses and we get stoped out and then we hope it will hit our 2X channel TP.

My question is, at what point do you change the TP to 2X.
I mean if your away from the computer and the initial breakout gets stopped out and reverses but only hits your 1Xchannel because you were not there to change the channel to 2X TP.

How are you folks getting around this problem,

PLEASE DO HELP, this thread is AWSOME.
Thanks
IA4X
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